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Assembly Bill A5154

2021-2022 Legislative Session

Requires insurers to display certain underwriting information on the declarations page to their homeowners and dwelling fire personal lines policies

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Archive: Last Bill Status - In Assembly Committee

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2021-A5154 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §3444-a, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A6181
2011-2012: A7553
2013-2014: A5746
2015-2016: A3312
2017-2018: A3399, A10334
2019-2020: A4200
2023-2024: A2716

2021-A5154 (ACTIVE) - Summary

Requires insurers to display certain underwriting information on the declarations page to their homeowners and dwelling fire personal lines policies.

2021-A5154 (ACTIVE) - Bill Text download pdf 

                            
 
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5154
 
                        2021-2022 Regular Sessions
 
                           I N  A S S E M B L Y
 
                             February 11, 2021
                                ___________
 
 Introduced  by  M.  of A. MONTESANO, B. MILLER, MORINELLO, J. M. GIGLIO,
   McDONOUGH -- read once and referred to the Committee on Insurance
 
 AN ACT to amend the insurance law,  in  relation  to  the  provision  of
   underwriting information
 
   THE  PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section 1. The insurance law is amended by adding a new section 3444-a
 to read as follows:
   § 3444-A. UNDERWRITING INFORMATION. 1. INSURERS SHALL DISPLAY  ON  THE
 DECLARATIONS  PAGE  TO THEIR HOMEOWNERS AND DWELLING FIRE PERSONAL LINES
 INSUREDS ALL PERTINENT  UNDERWRITING  INFORMATION  USED  TO  DERIVE  THE
 PREMIUM  FOR  SUCH  POLICY, INCLUDING, BUT NOT LIMITED TO, THE ESTIMATED
 SQUARE FOOTAGE OF THE PROPERTY TO BE INSURED, ITS  PRIMARY  CONSTRUCTION
 MATERIAL,  DISTANCE  FROM NEAREST FIRE HYDRANT (IF APPLICABLE), THE FIRE
 DISTRICT OR FIRE PROTECTION DISTRICT IN WHICH THE  PROPERTY  IS  LOCATED
 AND  WHETHER  A CREDIT SCORE WAS USED IN DETERMINING THE PREMIUM AND, IF
 SO, THE ACTUAL SCORE AND WHERE SUCH SCORE  LIES  ON  THE  SCALE  OF  THE
 COMPANY OR ENTITY WHICH PROVIDED THE SCORE.
   2.  THE INFORMATION REQUIRED BY THIS SECTION SHALL BE DISPLAYED ON THE
 DECLARATIONS PAGE OF ALL NEW HOMEOWNERS AND DWELLING FIRE PERSONAL LINES
 POLICIES AND ALL RENEWAL HOMEOWNERS AND DWELLING FIRE POLICIES.
   § 2. This act shall take effect on the one hundred eightieth day after
 it shall have become a law.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08615-01-1

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